The government has welcomed a significant increase in the dividend paid to the state by Perseus Mining (Ghana) Limited, with the company presenting GH¢391,195,000 (US$35 million) compared with US$5 million last year.
Finance Minister Dr Cassiel Ato Forson said the increase reflects the mining company’s improved profitability and reaffirmed the government’s position that Ghana should receive a fair share of the value generated from its mineral resources.
In a statement, Dr Forson wrote:
“On behalf of the Government and people of Ghana, I thank Perseus Mining (Ghana) Limited for presenting GH¢391,195,000.00 (US$35 million) dividend to the state, up from US$5 million last year.”
He said the substantial increase in the dividend was linked to the company’s profitability.
“This strong increase reflects the company’s profitability.”
The Finance Minister also explained the government’s approach to ensuring that the country benefits more when mining companies record stronger earnings.
“Ghana must receive its fair share from the extractive sector.”
According to Dr Forson, this principle informed the introduction of the sliding-scale system, which is designed to increase the state’s share when mining companies earn more.
“That is why we introduced the sliding-scale system: when mining companies earn more, the people of Ghana must benefit more!”
The latest dividend represents a significant increase in the state’s return from Perseus Mining, rising from US$5 million last year to US$35 million this year.
